The News In Brief
Ulta Beauty Partners with Instacart
The retailer’s 1400-plus doors across the US will now offer same-day delivery through the Q-commerce app.
True Religion Acquired by Private Equity Firm Acon Investments
The deal, which included participation from American Eagle’s chief executive, will help the denim maker expand globally.
Shein Representative Declines to Answer China Cotton Question in UK Hearing
The ultra-fast-fashion retailer has previously said it requires contract manufacturers to only source cotton from approved regions, and that it has a zero-tolerance policy for forced labour.
Luxury Tights Brand Wolford Faces Backlash Over Order and Refund Delays
Wolford has apologised for delivery and refund delays that have sparked customer outrage, admitting that its overstretched logistics system has caused widespread frustration, with many shoppers reporting month-long waits and poor service.
Holiday Online Sales Hit a Record $241 Billion in US, Adobe Says
US e-commerce spending hit a record $241 billion over the 2024 holiday season, driven by deep discounts and strong demand for electronics, apparel, and home goods.
Christian Lacroix Is Acquired by Sociedad Texil Lonia
The couturier Christian Lacroix, who now designs costumes for ballet and opera productions, will not be formally involved with the brand in an official capacity.
Next to Increase Prices to Help Pay for Budget Tax Changes
The fashion retailer said it expected UK growth to slow as a result, but a trend for shoppers to buy fewer, more expensive items would help offset higher costs.
Rolex, Patek Used Watch Prices Fell to Three-Year Low in 2024
The Bloomberg Subdial Watch Index, which tracks prices for the 50 most traded models by transaction value, declined nearly 6 percent last year to its lowest since 2021.
Ulta Beauty Names Insider Steelman as CEO, Flags Strong Holiday Sales
Cosmetics retailer Ulta Beauty said on Monday insider Kecia Steelman will replace retiring CEO Dave Kimbell in the top role, and forecast a strong fourth quarter, sending its shares up about 2 percent in extended trading.
British Fashion Council Names Laura Weir Next CEO
The Selfridges creative director will take over from Caroline Rush in April.
AI-Influenced Shopping Boosts Online Holiday Sales, Salesforce Data Shows
AI-powered chatbots helped boost US online holiday sales by nearly 4 percent year-over-year, reaching $282 billion, as retailers leveraged conversational tools and social media to engage shoppers.
L Catterton Takes Majority Stake in Kapital
The Japanese label with a cult menswear following entered into a partnership with the LVMH-backed private equity firm.